Bitcoin's Stock-to-Flow (S2F) model, one of the most widely cited BTC valuation frameworks, predicts a peak price of $222,000 in the current market cycle. But André Dragosch, head of European research at investment firm Bitwise, said investors should exercise caution when using the model.
Dragosch pointed out that the S2F model does not take into account demand-side factors, but instead focuses price modelling on the halving of bitcoin, that is, the halving of new BTC supply every four years. He added: "Institutional demand held through bitcoin exchange-traded products (ETPs) and corporate coffers now exceeds the annualised supply reduction caused by the most recent halving by more than seven times."
Exchange-traded funds, ETPs, and other bitcoin investment vehicles provide price support for BTC, keeping the price above $100,000.
With the participation of institutional investors, the market structure has become more mature, and investors and analysts are still debating the price movement of Bitcoin during this market cycle, as well as whether BTC has peaked or still has room to rise.
Analysts: Investors should exercise caution when considering the Bitcoin S2F model
2025-10-26 21:16:53
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